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Union Budget 2022 to be presented today; spending boost, elections likely focus
Federal Finance Minister Nirmala Sitharaman will present the annual budget in Parliament on Tuesday, the second day of the budget meeting. The high-profile event is seen as crucial to sustaining India’s recovery from the devastation caused by the pandemic.
Sitharaman to present Budget 2022: Track live updates
Sitharaman’s previous budget proposal has a different background. While she proposed a series of reforms in 2019 (months after the BJP won a blockbuster electoral mandate), the next one during the Covid-19 pandemic narrows the range of possibilities.
A third also emerged in the shadow of the pandemic.
The Union Cabinet will meet at 10.10am to approve the budget, which will be presented by the finance minister in Parliament at 11am.
Sitharaman’s fourth budget
The finance minister will present her fourth budget in a row this year and is expected to show the way to normalisation. She is expected to spend more on policies that create jobs, boost manufacturing and benefit the poor.
Full coverage: 2022 league budget
Other key figures to watch in the budget include projected tax increases, dividends from the central bank and state-owned enterprises, any changes to import duties as part of the government’s plan to boost manufacturing, and the allocation of subsidies, particularly to fertiliser manufacturers .
What did the economic survey say?
India’s economy is expected to grow by 8-8.5% in 2022-23, according to an economic survey presented to parliament on Monday. It further said that the estimated size of the economy has exceeded its pre-pandemic size.
Chief economic adviser V Anantha Nageswaran told a media briefing that growth forecasts in the survey were more conservative than those of other agencies. The International Monetary Fund forecast on January 25 that the Indian economy will grow by 9% in 2022-23.
Chief economic adviser Sanjeev Sanyal said India’s gross domestic product in 2021-22 is expected to be 1.3% higher than in 2019-20.
What’s more, the economic survey expressed confidence that the government has sufficient fiscal space to support economic activity, eschewing the actual fiscal trajectory for the next fiscal year starting in April, which is the prerogative of the budget.
Complete News Source : Hindustan Times
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Startups that use excerpts from their own pitch are sent legal notifications by Shark Tank India; the creator responds, “Kaise banega naya India?”
After getting a legal letter from Sony Pictures for copyright infringement, the subscription-based tea business Dorje Teas found itself in deep water for utilising footage from their own pitch on YouTube and Meta advertisements.
The founders of the subscription-based tea company Dorje Teas, Ishaan Kanoria and Sparsh Agarwal.
While many entrepreneurs, especially those with startups, have found transformation through the business reality TV series Shark Tank India, the narrative is slightly different for Dorje Teas, a subscription-based tea firm that ships organic and fresh-from-the-farm Darjeeling Tea to consumers throughout India. Sony Pictures Networks India slapped the firm with a legal notice, which has placed it in hot water.
Co-founder Sparsh Agarwal of the company, who brought Dorje Teas to Shark Tank India last year and raised funds of Rs 30 lakh for 15% equity from Anupam Mittal, Peyush Bansal, and Vineeta Singh, valued the business at Rs 2 crore, recently revealed on LinkedIn that they received a legal notice from Shark Tank India for utilising snippets of their own pitch.
Agarwal claims that they received a notification about copyright infringement for utilising these clips in YouTube and Meta advertisements. It appears that Sony Pictures has sent notice to other companies besides Dorje Teas. He said, “They’ve clamped down on every single startup that showed up on Shark Tank, so we’re not the only ones.”
“I don’t understand why they would do this, even though I am aware of the copyright rules that justify it. After all, Dorje Teas and several other businesses, like Skippi, Assembly, Perfora, Hoovu Fresh, Beyond Snack, Wakao Foods, Nasher Miles, and many more, invest thousands of dollars each month to enhance Shark Tank content, which helps the Shark Tank India brand get free exposure and increase brand memory,” he continued.
Agarwal went on to call it a poor business choice that some executive or lawyer at Sony had made, adding that it “goes against the entire ethos of promoting small startups.”
Additionally, the focus of Shark Tank Season 3 has been on creating a new India and assisting the startup environment in India. “How will we construct a ‘new India’ in this manner?’” he questioned in a self-recorded video.
On social media, Agarwal was met with praise, while some contended that Sony’s actions were legitimate in theory. “Dear Sparsh, you must realise that ‘You are the content’ in this situation. You play a big part in content production. You posted the material that features you on your social media accounts (Facebook, Instagram, YouTube, and so on), but not on Sony’s. You might say that the traffic they were supposed to get was somehow redirected to them. A content strategist made the observation, “You are monetizing your social channels with the content they produce.”
“The first person to provide a sneak peek in the content industry attracts greater attention. Furthermore, it’s possible that you agreed to sign a waiver giving them perpetual rights to the footage they shot. They said, “Verify your contract or try to recall signing any electronic documents on the filming locations that make this clear.
“You are investing lakhs of dollars to promote Shark Tank, while Shark Tank is investing billions of dollars to plan and publicise the programme that features your brand.” Simply alter your viewpoint, as another poster pointed out.
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